Malta’s Individual Investor Programme is Set to Continue with Some Changes
Malta has a successful citizenship by investment program since 2014. The program is called the Individual Investor Programme (IIP). There were rumors about the program’s future for a while. Many claimed that the program will be canceled soon. A recent statement by the Malta government says otherwise.
According to the statement, “once the current scheme reaches its maximum limit, a revised program will be launched.” It means that the program will continue with some revisions to its content. In the statement, the government emphasizes its trust in the program. Thus, investors may rest assured that the program will not be canceled.
When is the Change Going to Take Place?
The recent press release suggests that the revision will take place once IIP reaches its limit. This limit is set as 1800 applications. Last year’s reports by the Office of the Regulator of the Individual Investor Programme (ORiip) suggested that 1742 applications were received. 1198 of these applications were approved. It is not possible to guess the current numbers without an official report. Yet, according to Alex Muscat, the Parliamentary Secretary for Citizenship and Communities, around 70 percent of the limit is reached as of May.
In light of this information, the changes might come within a few months. One thing is for sure that Malta IIP will continue. Another good news is that there will be no time between revisions. So, interested investors will not lose time in-between.
What Might Change?
There are no certain changes as of now. Since nothing is declared, any assertion is mere speculation. Yet, since there will be no time in-between programs, one can assume that the revisions are ready. Thus, speculating on possibilities is a bit easier.
The strongest part of Malta’s IIP is its due diligence. Globally appraised, Malta’s program uses a four-tier due diligence process. It is the main reason for the high investor trust in Malta. The program is very picky about its applicants. So, no huge changes are expected in this area. Yet, Malta is likely to want to protect its fame as a secure immigration location. Thus, there may be a small adjustment to further strengthen the due diligence process.
The program is structurally strong. It means that radical structural changes are also not likely. Two central revisions seem possible. Both of these are about the minimum investment requirements of the program. The program started in 2014. Since then, it did not change its investment requirements. The global market, on the other hand, changed immensely. To bridge the gap, there may be an increase in the minimum investment requirement of the real estate option. An increase in government contribution is also possible. Yet this one would probably affect only the dependents. One final possibility is the cancellation of the EUR 150,000 investment in stocks and bonds.